Estate agent Foxtons, and its mortgage broker Alexander Hall, has been sold for £390m to private equity group BC Partners.
Foxtons founder and owner Jon Hunt started the business 26 yers ago in an office in Notting Hill. Hunt will gain an expected windfall of more than £350m from his estimted 90 per cent share of the business.
Foxtons chief operating officer Michael Brown will continue as chief executive of Foxtons in the UK.
The estate agency has 20 wholly owned offices. Including associated offices, Foxtons trades in a total of 40 UK branches.